High-five to all our industrial brethren out there. The first step is always to have someone involved with the Brookings Institution to recognize what's going on, the next step is to actually recover. So, let's get a move on, right?
Excerpt from the
Detroit Free Press:
Traditional industrial centers such as Baltimore, Cleveland,
Pittsburgh and yes, even Detroit, may fare better in recovering from the
current economic funk than so-called "bubble cities" such as Las Vegas,
Tampa, Miami or Riverside, Calif., said Bruce Katz, founding director
of the Brookings Institution's Metropolitan Policy Program.
At a recent London
School of Economics symposium on U.S. and European cities, Katz said
American bubble cities are characterized by "real estate economies built
on consumption and excess."
More mature industrial centers, he said, tend to have
strong universities and a history of research, innovation and making
things. If America is going to "rediscover our innovation mojo," as Katz
put it, traditional industrial metros are best equipped to lead the
way.
Read the entire article
here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.